Credit Acceptance Corp Sold me a car with a JUNK title- affiliated with the dealer- violated State laws Ripoff Southfield Michigan

I am the finance manager for a dealership who has Credit Acceptance in my portfolio of lenders. Let me first start by saying that I am not affiliated with Credit Acceptance in any other way. They have no stake in my business and we are signed up with them just as we are signed up with other lenders like Wachovia or Bank Of America. CAC does not finance branded title vehicles. This is against their policy. Even if I was so shady as to sell a car with a branded title and get it funded through CAC the title department would eventually catch the branded title and the dealer would be contractually obligated to buy the contract back.

You have recourse. The dealership you bought the vehicle from as a bond. I am not sure what that amount is, but go after the bond for misrepresentation.

Credit Acceptance WILL lend money to people with any kind of credit history. If you can prove who you are and where you get your money from, you areapproved, regardless of what your credit history is like. You can have a 0 or you can have a 770, it doesnt matter. Also, a 700 beacon doenst automatically get you approved at other banks for a loan. It IS up to YOU as a consumer to check out the lender that you are getting ready to sign with. If you had a 700 fico then you possibly had other options. The dealer is the one that was shady and you did the correct thing in trying to go against their bond, unfortunatly others beat you to it.

You could of stopped all this from happening however by being an informed consumer and asking for a vehicle history report (autocheck or carfax) to be done prior to your purchase. Credit Acceptance will accept a deal submitted with them with the junk/salvage/rebuilt title so it still isnt an issue with them. It still remains an issue with the dealer not informing you and its a Federal Law that they have to give you full disclosure of any known wrecks or damage on the vehicle. The dealer screwed you, not CAC. Congrats on getting closer to getting your car paid off.

I did not work for CAC but was a Finance Manager at a Franchaised dealer that used CAC as a bank for those that we couldnt get approved elsewhere. We were a reputable dealer and used them the way it should of been done. There are dealers out there that follow the rules but once again, as a consumer, its your responsibility to find them.

They are not at all like normal lenders....real lenders lend to many different dealerships. Just like BOAS or WAMU have many different brokerage relationships. CAC only lends to dealers who use them as their lender exclusively. They used to be the originator of the loans they did the financing on... but, this left them to open for all these potential law suits. So they changed their structure and became a third party to the whole scam! I am still mad as He** and I still have 7 more payments to go! Then of course I may be able to get my junk title from this piece of junk lender. Oh, yeah that's right they don't have the title the dealer does right? That is also BS, if CAC doesn't have the title then they wouldn't be able to repossess the cars. Also MR CAC employee State of Fl law says; the dealer can not sell a car with a junk title with out; having the car titled in their name before the point of sale. And by the way I have 700+ credit scores, My husband saw the car on the dealers lot and loved it so, their goes your theory that they only lend to people with BAD CREDIT. Also, now there is 100+ rip off complaints, seems CAC always has the same MO they lend on the dealers paper, then the dealer goes out of business, leaving the consumer with no one to blame but themselves just wait one of these lawyers will smell the blood in the water and CAC will be rewriting their policies. If I were you I would find a job with a more reputable company.

You should be fighting the DEALER, not Credit Acceptance. Like the other person said, Credit Acceptance does not own dealerships, they simply work with dealers to help people with bad credit finance a car. If you have perfect credit, you probably shouldn't have chosen Credit Acceptance in the first place. I suggest you visit their website to learn more about them, and knowledge yourself a little bit.

You should be fighting the DEALER, not Credit Acceptance. Like the other person said, Credit Acceptance does not own dealerships, they simply work with dealers to help people with bad credit finance a car. If you have perfect credit, you probably shouldn't have chosen Credit Acceptance in the first place. I suggest you visit their website to learn more about them, and knowledge yourself a little bit.

You should be fighting the DEALER, not Credit Acceptance. Like the other person said, Credit Acceptance does not own dealerships, they simply work with dealers to help people with bad credit finance a car. If you have perfect credit, you probably shouldn't have chosen Credit Acceptance in the first place. I suggest you visit their website to learn more about them, and knowledge yourself a little bit.

You should be fighting the DEALER, not Credit Acceptance. Like the other person said, Credit Acceptance does not own dealerships, they simply work with dealers to help people with bad credit finance a car. If you have perfect credit, you probably shouldn't have chosen Credit Acceptance in the first place. I suggest you visit their website to learn more about them, and knowledge yourself a little bit.

Credit Acceptance does not own dealerships. They have a working relationship with several thousand dealers in the us. the relationship is very similar to what a bank like sun trust or wachovia would have with a car dealership. I feel bad that you got taken for a ride but the only way the dealer could have received money from cac is to have a clear title. also most titles are never in the dealers name before they are sold. They are bought at auction or from wholesalers and the title is applied for when the vehicle is sold to the public. Someone is giving you some bad info. you need to look into legal action but you have no gripe with credit acceptance

I filed a claim against the bond of their dealer, only to be told they had more claims than they had bond. I am so tired of dealing with these people. I am still making 549.65 a month payments and replaced the alternator again as well as battery and belts. I wonder if when i finally make the last payment if I will have to fight them for the Junk title.

I will never be able to get out from under this car whithout practically giving it away. If you are viewing this Please do not get a loan with Credit Acceptance, they have no respect for hard working people. They are predatory lenders that need to be shut down. There is nothing worse than Corporate America getting away with ripping off the less fortunate working people. All of the mortgage lenders are being sued for predatory lending maybe these guys will follow suit.

Still looking for a class action suit to join.